The accountant is working on an engagement with respect to the client's financial statements.Which of the following engagements would omit an assessment of the client's accounting policies' compliance with GAAP?

Question

Quizplus · Accepted Answer

A compilation engagement involves the preparation of financial statements without providing assurance on their accuracy or conformity with GAAP, so there would be no assessment of compliance with GAAP. Reviews and audits both involve providing assurance on the financial statements and would include an assessment of compliance with GAAP. Attestation engagements may or may not involve testing compliance with GAAP, depending on the nature of the engagement.

The Accountant Is Working on an Engagement with Respect to the Client's